Amcor
AMCRNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $45.19 Prior regular-session close from the quote source.
- $44.17–$45.00 Regular-session low and high so far today.
- 2.7M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 2 projected Projected for 2027-02-02 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $36.25–$50.94 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own AMCR if its enlarged global packaging platform turns essential-product demand, technical packaging know-how and procurement scale into durable cash flow rather than commodity-like volume growth.
AMCR price history
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Investment thesis
What must happen next
The enlarged manufacturing footprint will create procurement, utilization and overhead efficiencies rather than simply adding low-return capacity.StrengtheningMateriality: High
GAAP annual operating_income rose to $1.899 billion in FY2026 from $1.009 billion in FY2025. If scale creates operating leverage, equity owners get margin expansion and better cash generation; if not, the larger revenue base may only add complexity and balance-sheet risk.
Watch: Plant consolidation or systems-integration problems cause service failures for large consumer packaged goods or healthcare customers.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating_income rose to $1.899 billion in FY2026 from $1.009 billion in FY2025.
Open source ↗Demand should remain resilient because Amcor serves packaging needs tied to everyday consumer and healthcare products rather than purely discretionary end markets.StrengtheningMateriality: High
GAAP annual revenue was $23.506 billion in FY2026, up from $15.009 billion in FY2025 and $13.640 billion in FY2024. Recurring end-market demand supports utilization and cash flow through cycles; a demand shift would expose Amcor to volume deleverage.
Watch: Large food, beverage, personal-care or healthcare customers materially reduce SKUs, destock packaging inventories, or redesign products to use less packaging.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue was $23.506 billion in FY2026, up from $15.009 billion in FY2025 and $13.640 billion in FY2024.
Open source ↗Technical performance, customer qualification and sustainability requirements will keep Amcor from being priced purely as a commodity converter.StrengtheningMateriality: Medium
GAAP annual gross_profit increased to $4.690 billion in FY2026 from $2.834 billion in FY2025. If customers value Amcor’s design, material science and reliability, gross profit can hold; if products become interchangeable, pricing pressure compresses returns.
Watch: Competitors such as Sealed Air, Mondi, Huhtamaki, Constantia Flexibles, Silgan or Aptar match Amcor’s sustainable-packaging capabilities and force tenders to lowest price.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross_profit increased to $4.690 billion in FY2026 from $2.834 billion in FY2025.
Open source ↗The operating model will convert earnings into cash despite integration costs, working-capital swings and raw-material volatility.StrengtheningMateriality: Medium
GAAP annual operating_cash_flow was $2.151 billion in FY2026, up from $1.390 billion in FY2025 and $1.321 billion in FY2024. Cash conversion is what funds debt reduction, reinvestment and shareholder returns; weak conversion would make accounting earnings less valuable.
Watch: Integration disruption causes inventory builds, duplicated systems costs or delayed customer collections.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating_cash_flow was $2.151 billion in FY2026, up from $1.390 billion in FY2025 and $1.321 billion in FY2024.
Open source ↗Management must keep the enlarged liability base from becoming the primary driver of equity value by using cash generation and integration benefits to preserve financial flexibility.HoldingMateriality: Medium
Total liabilities were $25.294 billion at FY2026 year-end, roughly flat with $25.326 billion at FY2025 year-end. If leverage or obligations dominate the story, equity upside from operating improvements is capped and downside risk rises in a downturn.
Watch: Interest-rate refinancing or credit-rating pressure forces cash to be diverted from investment and shareholder returns.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Total liabilities were $25.294 billion at FY2026 year-end, roughly flat with $25.326 billion at FY2025 year-end.
Open source ↗
Full investment case & evidence
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Original research
The enlarged manufacturing footprint will create procurement, utilization and overhead efficiencies rather than simply adding low-return capacity. If scale creates operating leverage, equity owners get margin expansion and better cash generation; if not, the larger revenue base may only add complexity and balance-sheet risk.
Demand should remain resilient because Amcor serves packaging needs tied to everyday consumer and healthcare products rather than purely discretionary end markets. Recurring end-market demand supports utilization and cash flow through cycles; a demand shift would expose Amcor to volume deleverage.
Technical performance, customer qualification and sustainability requirements will keep Amcor from being priced purely as a commodity converter. If customers value Amcor’s design, material science and reliability, gross profit can hold; if products become interchangeable, pricing pressure compresses returns.
The operating model will convert earnings into cash despite integration costs, working-capital swings and raw-material volatility. Cash conversion is what funds debt reduction, reinvestment and shareholder returns; weak conversion would make accounting earnings less valuable.
Management must keep the enlarged liability base from becoming the primary driver of equity value by using cash generation and integration benefits to preserve financial flexibility. If leverage or obligations dominate the story, equity upside from operating improvements is capped and downside risk rises in a downturn.
All standing thesis claims
Original report summary
its enlarged global packaging platform turns essential-product demand, technical packaging know-how and procurement scale into durable cash flow rather than commodity-like volume growth.
Bull case and bear case
Bull case and bear case for Amcor
Where the evidence on Amcor stands: Holding on the latest evidence (Oct 17, 2026). Of its 5 thesis points, 4 strengthening and 1 holding.
Bull case: what the evidence supports
The enlarged manufacturing footprint will create procurement, utilization and overhead efficiencies rather than simply adding low-return capacity.
Demand should remain resilient because Amcor serves packaging needs tied to everyday consumer and healthcare products rather than purely discretionary end markets.
Technical performance, customer qualification and sustainability requirements will keep Amcor from being priced purely as a commodity converter.
The operating model will convert earnings into cash despite integration costs, working-capital swings and raw-material volatility.
Management must keep the enlarged liability base from becoming the primary driver of equity value by using cash generation and integration benefits to preserve financial flexibility.
Bear case: what would count against it
Plant consolidation or systems-integration problems cause service failures for large consumer packaged goods or healthcare customers.
Large food, beverage, personal-care or healthcare customers materially reduce SKUs, destock packaging inventories, or redesign products to use less packaging.
Competitors such as Sealed Air, Mondi, Huhtamaki, Constantia Flexibles, Silgan or Aptar match Amcor’s sustainable-packaging capabilities and force tenders to lowest price.
Thesis-Break Engine
What has broken in Amcor’s thesis
Each break OptimistFi flagged on Amcor, dated — with what has historically followed the same kind of break across the market, not a forecast for Amcor.
- Price target fell below the stockcondition set before this filing
Across all companies, this kind of break has happened 1,809 times before. Those stocks trailed comparable companies by a median of 1% over the next six months, and 33% of them trailed it by 10 points or more.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedChanged certifying accountant.
Amcor filed an SEC 8-K on 2026-08-14: Changed certifying accountant. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Amcor filed an SEC 8-K on 2026-08-12: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
Amcor filed an SEC 8-K on 2026-06-15: Director or principal officer change. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Plant consolidation or systems-integration problems cause service failures for large consumer packaged goods or healthcare customers.
- Large food, beverage, personal-care or healthcare customers materially reduce SKUs, destock packaging inventories, or redesign products to use less packaging.
- Competitors such as Sealed Air, Mondi, Huhtamaki, Constantia Flexibles, Silgan or Aptar match Amcor’s sustainable-packaging capabilities and force tenders to lowest price.
- Integration disruption causes inventory builds, duplicated systems costs or delayed customer collections.
- Interest-rate refinancing or credit-rating pressure forces cash to be diverted from investment and shareholder returns.
AMCR news
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Financial statements
AMCR income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
AMCR: quick answers
- When does Amcor (AMCR) report earnings next?
- Amcor's next results are projected for February 2, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 4, 2026. Earnings calendar
- What is AMCR's short interest?
- As of October 30, 2026, 22.8M AMCR shares were sold short, 4.94% of its shares outstanding, down 2.8% from the count before. At the stock's average daily volume that is 7.0 days to cover. FINRA publishes the count twice a month. AMCR short interest history
- Have members of Congress traded AMCR?
- Reports made public in the last 90 days disclose 3 trades in AMCR by 2 filers: 1 purchase and 2 sales. They are filed under the STOCK Act by members of Congress, the President and senior officials. Every disclosed AMCR trade
- Which well-known investors own AMCR?
- 1 of the 37 well-known funds tracked here reported AMCR shares in their latest 13F filing. By share of the fund's portfolio: Bridgewater Associates (Ray Dalio), 0.0%. Fund portfolios
AMCR in well-known investors’ portfolios
1 of 37 funds reported AMCR shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Ray DalioBridgewater Associates | 0.03% | $8.5M | New | Q2 2026 |